Fuck Nuts and Paper Cuts is an exclamation used by one who has just had something negative occur unto them.

It can be yelled or uttered under ones breath, both with roughly the same meaning of "I am not fond of what just happened to the point of incoherence and so I will utter a nonsensical phrase."

The phrase originated in the online gaming world and was uttered randomly upon the death of a player. The player and his friend then sat in silence pondering upon this new exclamation for not only did it rhyme, it also combined a variety of strange things all in one.